Charged to an expense account, fully reducing reported profit of that year, as is appropriate for expenditures for items with useful lives under one year.
Charged to an expense account, reducing the profit for a given project or assignment. The term is associated with charges connected to networking and other events used to attract clients or investors. Expensed items are written off on taxes as they reduce profit.
179 deduction is determined without having to prorate the expensed amount by either the period of time the property has been in service during the tax year or the length of the tax year, as in the case of short tax years.
179 property to which the election applies and the portion of the cost of each asset that is expensed.
The taxable income limitation The amount that may be expensed under Sec.